Windmill Hill Homes Acquires Mixed-use Property In Alexandria For $5M
901 King St, Alexandria, VA, 22314
$5,000,000
Building Size
—
Asset Type
Mixed-use
Closing
Nov 22, 2023
AI
The property at 901-905 King Street is a four-level mixed-use building located in Alexandria’s Old Town district. The building, occupied by White House Black Market, was sold for $5 million. Windmill Hill Homes plans to convert the vacant office space into 14 residential units while retaining the retail space.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $5,000,000.00
- Address: 901 King St, Alexandria, VA, 22314
- Market: Alexandria
- Seller's Rep: Tanner Scales (Feldman Ruel Urban Property Advisors)
- Buyer: Windmill Hill Homes
Tanner Scales, Josh Feldman, and Ian Ruel from Feldman Ruel represented the seller, A & H LLC, in the transaction of 901-905 King Street. Windmill Hill Homes, the buyer, will embark on converting the office space into residential units in the building, with the retail space set to remain unchanged.
Players
Alexandria Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93